These Three Relatively Unknown Companies Were Trading Higher On Monday

Here are three relatively unknown companies that are offering investors impressive returns on Monday.

Gas Natural Soars 65%

Shares of Gas Natural (NYSE: EGAS), a sub-$200 million natural gas distributor and seller to end-use residential, commercial and industrial customers, soared higher by more than 65 percent on Monday.

Gas Natural announced that it has agreed to sell itself to an energy infrastructure investment fund sponsored by First Reserve. As part of the agreement, First Reserve will acquire all of Gas Natural’s stock for $13.10 per share, for a total consideration of $196 million.

The deal also implies a premium of nearly 40 percent compared to Gas Natural’s prior 52-week high. The acquiree will also continue paying Gas Natural’s shareholders a quarterly cash dividend of $0.075 per share pending approval of the merger.

Gas Natural has a 42-day “go shop” period in which it can solicit, receive and evaluate any other buyout agreements. If no other buyer presents themselves the deal is expected to close in the bottom half of 2017.

IntelliPharma Gains 20% Following Tentative FDA Approval

IntelliPharmaCeutics Intl (NASDAQ: IPCI), a pharmaceutical company that specializes in the development of controlled-release and targeted-release oral solid dosage drugs, saw its shares gain around 20 percent.

IntelliPharmaCeutics said after Friday’s market close that the U.S. Food and Drug Administration (FDA) granted the company a tentative approval for its abbreviated new drug application (ANDA) for its quetiapine fumarate extended-release tablets in the 50, 150, 200, 300 and 400 mg strengths.

The company’s therapy is a tentatively-approved generic equivalent for AstraZeneca’s (NYSE: AZN) product called Seroquel XR.

If the company receives final FDA approval it can begin selling its generic equivalent to Seroquel on November 1, 2016 and there are currently no generic equivalents to AstraZeneca’s therapy which is under trademark until 2017.

However, a settlement agreement between IntelliPharmaCeutics and AstraZeneca from 2012 permits the company to sell its generic version in November.

Indexes

STAY CONNECTED

At Stockmarketdaily.co, we give investors our free and unbiased view of Stock market and also on what happening in global markets. Our team undoubtedly analyse tons of companies every day and provide their unbiased opinion on them. We are always looking over income statements, earnings, analyst updates, joint ventures and balance sheets. We don’t receive compensation from any of the stocks We write about. Also, We don’t “short” any of the stocks We criticise.